Bailout grants for self-employed will double during the second Covid lockdown

BAILOUT grants for the self-employed will double during the second Covid-19 lockdown, Boris Johnson has announced.

The Government will pay 80 per cent of normal trading profits for November — the same proportion furloughed staff will receive.

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It takes the maximum grant for solo workers from November to the end of January to £5,160.

The Treasury says it means the self-employed will get £4.5billion in total over the next three months.

Chancellor Rishi Sunak warned that, despite the extension of financial support, many would lose income. 

He said: “Close to three quarters of a million people have already lost jobs and sadly many more will. That is going to happen as a result of the restrictions we are putting in place.”

FSB boss Mike Cherry said: “It’s a relief to see the Prime Minister listening to some of our calls for extra support for small businesses and the self-employed.

“The uprating of the Self-Employment Income Scheme to 80 per cent for November is generous and will likely help around two million self-employed people – bringing forward the application date is helpful.

“However, many of our self-employed are still not included in the initiative. This is a five-million strong community that drives our economy forward, but the Government has insisted that large swathes of it do not warrant any help where income is concerned.”

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